MOSCOW, July 11 (Reuters) – Russia’s second largest bank, VTB (VTBR.MM), opens new tab, has carried out a reverse share split that will raise the value of each individual share to 50 roubles ($0.57) from 0.01 roubles, the bank said on Thursday.
A reverse share split, or stock merge, consolidates the number of existing shares held by shareholders into fewer shares.
The reverse share split was designed to make it easier for investors to trade VTB’s shares, CFO Dmitry Pyanov said.
Source: REUTER
